MSME two form or One form

[Sachin Verma]

Dear All

We required to file Two forms by 30.05.2019

One for outstanding Dues as on 22.01.2019 And the Second one for dues as on 31.03.2019

Or

We require to file only one form for outstanding Dues as on 22.01.2019 till 31.03.2019

and the second one will be applicable to file April to September by 31.10.2019

[Hardik Jetani]

The Form required to filed only if any outstanding Payment exceeding 45 days to MSME enterprise. 

So, if Company has such outstanding towards MSME Enterprise on 22nd January, 2019, then required to file Initial Return otherwise not. Same for the Half yearly return. 

Others' view are solicited. 

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Thanks & Regards,

CS. HarDik JeTani

(CS., B.COM)

Mo.:+91 94082 30805

E-Mail ID: cshar...@gmail.com

[Hemant Pai]

Dear Hardikji,

If a supplier has delivered the goods to the company on 23.01.2019 and its unpaid till 31.03.2019 (exceeding 45 days), Can we file those details in Initial return?

Thanks

Hemanth Pai

[Sachin Verma]

Thanks Hardik

But My question is 

for applicabilty of Half year -First Time we have to consider October 2018 to march 2019 or April 2019 to September 2019 

[Hardik Jetani]

Dear Hemantji,

As per the Notification, Initial Return required to be file for the outstanding dues to Micro or small enterprises suppliers EXISTING on the date of Notification of Order. so, on notification date i.e. 22nd April goods has not been delivered, as per my opinion such details not to be filed in Initial Return. 

However, you may file such details voluntary with explanation. 

[Hardik Jetani]

Its October to March 2019.

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[Sachin Verma]

Ok thanks

On Wednesday, 1 May 2019 11:51:52 UTC+5:30, Sachin Verma wrote:

[Purnima Bhasin]

Respected Sir,

As per my view, reporting till 22/01/2019 shall be done in the initial return and in the half yearly return, reporting from the period 23/01/2019 till March, 2019 can be done.

Other views are solicited

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Thanks and Regards,
Purnima Bhasin

(ACS, B.Com)

[Hemant Pai]

Dear Hardikji,

Thank you for prompt response. 

I understand notification date is 22nd January, 2019 and dues outstanding more than 45 days to suppliers existing as on 22.01.2019 (22.01.2019 being the 46th day) we need to report those transactions under initial return and need to cover all the transactions till 22.01.2019 and during subsequent filing for every half year we need to cover transactions from April to September and October to March.

Please correct me if it is otherwise

Thanks

Hemanth Pai

[Ramachandran V]

its not clear if we have to file the half yearly return for the period October 2018 to March, 2019 because the period for that is over. It was 30 days from the end of March 2019 i.e. 30th April, 2019. MCA as usual comes out with half baked forms and solutions 

V. Ramachandran

V.R. Associates

Company Secretaries

https://vramonline.wordpress.com/

[Purnima Bhasin]

Respected All,

For any further clarifications in respect of the same, please refer to the attached notification.

Hope this will clarify all your queries/ doubts pertaining to the reporting.

[Neha Jain]

Dear Purnima,

That's for DPT-3 not for MSME

[Purnima Bhasin]

Respected members,

Sorry for the inconveniences being caused.

Thanks and regards,
Purnima Bhasin
(ACS, B.Com)